Redwood Investment Management LLC Buys Shares of 112,354 Uniti Group Inc. (NASDAQ:UNIT)

Redwood Investment Management LLC acquired a new stake in Uniti Group Inc. (NASDAQ:UNIT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 112,354 shares of the real estate investment trust’s stock, valued at approximately $656,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UNIT. Point72 DIFC Ltd purchased a new position in Uniti Group in the third quarter valued at $235,000. Centiva Capital LP purchased a new position in Uniti Group during the 3rd quarter worth $112,000. Paloma Partners Management Co purchased a new position in shares of Uniti Group during the third quarter worth about $6,218,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Uniti Group by 106.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,523 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 10,064 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Uniti Group in the 3rd quarter valued at $2,038,000. 87.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $5.50 target price on shares of Uniti Group in a research report on Thursday, August 29th.

Uniti Group Price Performance

Shares of UNIT opened at $5.80 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 14.15 and a beta of 1.35. Uniti Group Inc. has a 12 month low of $2.57 and a 12 month high of $6.71. The stock’s 50-day moving average is $5.67 and its two-hundred day moving average is $4.49.

Uniti Group Company Profile

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.